Browns Investment PLC

bullrun · 1 Browns Investment PLC Sun Dec 29, 2013 8:35 am

bullrun

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As per the announcement dated 5th December 2013 they have sold 305,358,880 shares of Royal Fernwood (RF) for Rs.300 ml.

But in their accounts it shows that they held only 68,557,692 being 76% holding at RF?

Can anybody explain this?

Redbulls · 2 Re: Browns Investment PLC Sun Dec 29, 2013 12:06 pm

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As per my understanding

BIL as company owns 68,557,692 shares which is 17 %.
Browns Investment PLC Bil110

BIL as a holding company controls 76% of Royal Fernwood.
Browns Investment PLC Bil210

Further clarification appreciated.

Gaja · 3 Re: Browns Investment PLC Thu Jan 02, 2014 1:01 pm

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http://www.cse.lk/cmt/upload_cse_announcements/6361388645796_.pdf

Chinwi · 4 Re: Browns Investment PLC Thu Jan 02, 2014 1:48 pm

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Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/6361388645796_.pdf

68.5 million shares = Rs. 67.3 million

18.2 million shares = Rs. 232.6 million ?

Slstock · 5 Re: Browns Investment PLC Thu Jan 02, 2014 1:50 pm

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Did they buy TAprobane Capital share ( which hold Rotal Fren wood)

Chinwi wrote:

Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/6361388645796_.pdf

68.5 million shares = Rs. 67.3 million

18.2 million shares = Rs. 232.6 million ?

Gaja · 6 Re: Browns Investment PLC Thu Jan 02, 2014 2:34 pm

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Seems something is still missing in the announcement

http://www.cse.lk/cmt/upload_cse_announcements/231388651193_.pdf

bullrun · 7 Re: Browns Investment PLC Thu Jan 02, 2014 3:30 pm

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What the hell are they doing? Why don't they mention the final result whether they made a profit or not?

Chinwi · 8 Re: Browns Investment PLC Thu Jan 02, 2014 11:57 pm

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You have to read both statements to get the correct picture.

It should be like this:

BIL disposed to DPL,
Direct holding, 68.5 million RF shares for consideration of Rs.67.3 million.
and
Indirect holding of 236.8 million RF shares by selling 18.2 million shares of Taprobane Capital (100% ) to DPL for consideration of Rs.232.6 million

kalum · 9 Re: Browns Investment PLC Fri Jan 03, 2014 10:06 am

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Dear Chinwi, how do you explain this deal? Will it impact on any of these companies in positive or negative way? your experience will help to get some light here...